Zacks Investment Management Buys 30,134 Shares of Cintas Co. (NASDAQ:CTAS)

Zacks Investment Management lifted its stake in Cintas Co. (NASDAQ:CTAS - Free Report) by 14.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 243,183 shares of the business services provider's stock after acquiring an additional 30,134 shares during the period. Zacks Investment Management owned 0.06% of Cintas worth $44,430,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Marshall Wace LLP increased its stake in shares of Cintas by 15,965.3% in the fourth quarter. Marshall Wace LLP now owns 353,437 shares of the business services provider's stock worth $64,573,000 after purchasing an additional 351,237 shares during the period. Jump Financial LLC increased its position in Cintas by 9.0% in the 4th quarter. Jump Financial LLC now owns 6,453 shares of the business services provider's stock worth $1,179,000 after buying an additional 533 shares during the period. Bridgewater Associates LP acquired a new position in shares of Cintas during the fourth quarter worth approximately $208,000. Kane Investment Management Inc. bought a new stake in shares of Cintas in the fourth quarter valued at approximately $4,196,000. Finally, Ontario Teachers Pension Plan Board grew its stake in shares of Cintas by 232.1% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 17,191 shares of the business services provider's stock worth $3,141,000 after acquiring an additional 12,015 shares during the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Ronald W. Tysoe sold 8,521 shares of the business's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $208.96, for a total transaction of $1,780,548.16. Following the completion of the sale, the director now owns 27,029 shares in the company, valued at $5,647,979.84. The trade was a 23.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jim Rozakis sold 2,000 shares of the company's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $190.37, for a total value of $380,740.00. Following the transaction, the chief operating officer now directly owns 256,528 shares in the company, valued at $48,835,235.36. This trade represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. 15.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CTAS has been the subject of several research analyst reports. Royal Bank of Canada reiterated a "sector perform" rating and set a $215.00 target price on shares of Cintas in a research note on Thursday, March 27th. Wells Fargo & Company lifted their target price on Cintas from $184.00 to $196.00 and gave the stock an "underweight" rating in a research report on Thursday, March 27th. The Goldman Sachs Group upped their price target on Cintas from $211.00 to $233.00 and gave the company a "buy" rating in a report on Thursday, March 27th. UBS Group raised their price objective on Cintas from $218.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Finally, Robert W. Baird upped their target price on Cintas from $200.00 to $227.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $213.62.

Cintas Price Performance

NASDAQ:CTAS traded up $1.04 on Friday, reaching $205.76. The stock had a trading volume of 1,712,106 shares, compared to its average volume of 1,703,246. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $83.08 billion, a P/E ratio of 49.61, a price-to-earnings-growth ratio of 3.98 and a beta of 1.20. Cintas Co. has a 1-year low of $162.16 and a 1-year high of $228.12. The stock has a fifty day moving average price of $201.42 and a 200-day moving average price of $204.33.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Wednesday, March 26th. The business services provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.05 by $0.08. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the previous year, the business earned $3.84 EPS. Cintas's revenue was up 8.4% compared to the same quarter last year. Research analysts forecast that Cintas Co. will post 4.31 EPS for the current year.

Cintas Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Thursday, May 15th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date is Thursday, May 15th. Cintas's dividend payout ratio is currently 36.11%.

Cintas Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.